PrimeEnergy Resources (NASDAQ:PNRG) Posts Quarterly Earnings Results

PrimeEnergy Resources (NASDAQ:PNRG) posted its quarterly earnings results on Tuesday. The oil and natural gas company reported $1.02 EPS for the quarter, Zacks reports. PrimeEnergy Resources had a return on equity of 32.76% and a net margin of 27.73%.

PrimeEnergy Resources Trading Up 2.2 %

Shares of PrimeEnergy Resources stock opened at $187.80 on Wednesday. The company’s 50-day moving average price is $200.96 and its 200-day moving average price is $193.93. The company has a market cap of $322.45 million, a price-to-earnings ratio of 8.07 and a beta of 0.04. PrimeEnergy Resources has a 12-month low of $98.55 and a 12-month high of $243.49. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In other news, major shareholder Rothschild Robert De bought 1,017 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average cost of $195.29 per share, with a total value of $198,609.93. Following the completion of the purchase, the insider now directly owns 236,913 shares in the company, valued at $46,266,739.77. This represents a 0.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Clint Hurt sold 1,107 shares of PrimeEnergy Resources stock in a transaction on Friday, January 17th. The shares were sold at an average price of $214.09, for a total transaction of $236,997.63. Following the completion of the sale, the director now owns 131,574 shares in the company, valued at approximately $28,168,677.66. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,929 shares of company stock worth $4,387,666 in the last three months. 61.07% of the stock is currently owned by corporate insiders.

About PrimeEnergy Resources

PrimeEnergy Resources Corporation, through its subsidiaries, engages in acquisition, development, and production of oil and natural gas properties in the United States. The company owns leasehold, mineral, and royalty interests in producing and non-producing oil and gas properties; and operates approximately 534 active wells and owns non-operating interests and royalties in 952 additional wells.